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Five Countries Make Bitcoin Legal Tender By End Of 2022

  • “My prediction is that by the end of next year, we’ll have at least five countries that accept Bitcoin as legal tender. All of them will be developing countries,” the BitMEX CEO wrote.
  • High inflation charges, hefty remittance charges, and political incentives may spur creating nations to comply with El Salvador’s steps and undertake BTC as a authorized tender subsequent 12 months.
  • In Alexander Höptner’s opinion, mainstream media criticism of the Central American nation’s Bitcoin regulation is unfair.

The current transfer by El Salvador to make bitcoin a authorized tender alongside the greenback spurred some criticism worldwide, however primarily amongst mainstream media, such because the Financial Times and Wall Street Journal, and famend monetary establishments, together with the International Monetary Fund (IMF) and the World Bank.

Alexander Höptner, the CEO of bitcoin trade BitMEX, defined in a blog post on October 6 that the quick backlash sparked by the Bitcoin regulation within the Central American nation displays the opinion of those that profit from the established order.

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